Board management is the process for overseeing board members activities. It involves a wide variety of tasks, from arranging meetings and sharing information to developing clear roles and duties. The term «board» can be associated with executives at the top, but the concept can be applied to any group of people who collaborate to make decisions within an company. The effectiveness of an organization is directly impacted by the direction of these task groups or ‘boards.’
One of the most important points to keep in mind when managing your board is that your members are leaders in their own right. As chairperson, your role is to guide them down the right track, not control how they carry out their duties. This will help you avoid the most common mistakes made by boards.
Beware of the «groupthink trap»:
Groupthink is a tendency for members to join with one another and to reinforce opinions they already share, which can lead to poor decision-making. The best method to avoid groupthink is to allow a variety of perspectives into the boardroom. This will help you see the risks and opportunities your business faces more than you think.
Make sure that your board members are well-informed before every meeting:
This is crucial, particularly for directors who may not be familiar with the field of work of the company. To ensure that they are not shocked by the content discussed in a meeting you should send the decks to board members at least 2 days prior to the meeting so that they can read them and add comments or questions. Ted also suggests conducting board syncs every quarter to gather input and ensure alignment of board members between meetings. This can be done by using a board portal like iBabs. It facilitates collaboration between meetings and lets directors monitor engagement and follow-up on actions items easily.